Private real estate financing can help investors purchase, fix up or refinance a home via a short-term mortgage from a privately owned business or an individual. Greenwood Village private mortgage loans have many advantages — they close fast, are easy to qualify for and are also offered to self-employed applicants.

Which means that no matter the caliber of your credit score, you still have a good chance of qualifying for private money for a real estate loan so long as your project is viewed to be profitable, you have sufficient capital to set aside for the downpayment, you have demonstrated yourself competent in earlier real estate ventures, you have considerable equity in the home or property or you can show a clear plan to take care of the loan. Besides, if you want a fast closing, you will not see many alternatives better than Greenwood Village private real estate mortgages.

Frequently, clients talk to Greenwood Village private mortgage lenders to finance their projects when:

1. They need to renovate or make repairs to the property to allow them to sell it at an increased price or to charge higher rents.

   For example, we had a client with a 2-family rental property. He already had a considerable amount of equity available in the building and the rent payments delivered steady revenue. He desired to do some renovation to the place to be able to maintain high rents, but a below average credit score of 520 meant a bank would turn down his loan application. Hence, the customer called Read Rock Capital (Read Rock Capital) to complete a cash-out refinance that got him financing for 65% of the property's market value.

2. They wish to combine each of their debts into one single payment.

   A lot of people find that it's stressful to manage numerous payments every month. Due to this, some individuals borrow from their home equity to combine their unsecured debts into one manageable payment.

3. They wish to allocate their existing equity in one property and use it to acquire a different one.

   For example, a borrower located in Hawaii owned a house appraised at $1,200,000. His plans to sell the house did not happen and he finally was forced to be content with leasing the house to an interested party, with the option to buy down the road. The income that came from the lease paid for his continuing mortgage bill, insurance, and property taxes. In addition, he was given a $200k non-refundable downpayment for the 3-year lease contract. These assurances meant he no longer had to be concerned about the property's ongoing expenses, and thus, when a new real estate investment opportunity came up, he found Read Rock Capital and got a private mortgage loan at 70% LTV. The financing helped him cover the cost of a new investment and also pay off his original mortgage.

4. They want help to meet the balloon payment for the current private loan.

   A real estate investor who currently has an existing private mortgage loan and is unable to afford the balloon payment thanks to a change of circumstances can submit an application for refinancing from a different lender. A cash-out refinance will help you pay the balloon payment and escape penalty.

Looking to discuss mortgage options with a private mortgage lender in Greenwood Village? Complete the form on this page or call us to discuss your project.